39A-205 Exemption from taxation of department property. All revenues derived by the department from any project or under the project agreement pertaining thereto shall be exempt from all state and county taxation. Any right, title, and interest of the department in any project shall also be exempt from all state and county taxation. Except as otherwise provided by law, the interest of the project party or user of such project in a project or under the project agreement or related agreement shall not be exempt from taxation to a greater extent than it would be if the costs of the project were directly financed by the project party or other user.
Terms Used In Hawaii Revised Statutes 39A-205
- county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
- Department: means the department of budget and finance. See Hawaii Revised Statutes 39A-191
- Project: means any energy project or telecommunications project. See Hawaii Revised Statutes 39A-191
- Project agreement: means any agreement entered into under this part by the department with the project party for the financing from the proceeds of special purpose revenue bonds of a telecommunications project or an energy project, including without limitation any loan agreement. See Hawaii Revised Statutes 39A-191
- Project party: means an electric or gas utility, including a publicly owned energy cooperative, serving the general public and that is regulated by the public utilities commission under chapter 269, or a telecommunications carrier or telecommunications common carrier, whether or not subject to regulation by the public utilities commission under chapter 269. See Hawaii Revised Statutes 39A-191